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Pennsylvania Senate: Although Trump is projected to win Pennsylvania, the Senate race there is still too close to call. Colorado's 8th District: Democratic Rep. Yadira Caraveo is locked in a tight race in the Denver suburbs against Republican state Rep. Gabe Evans. Ohio's 9th District: Democratic Rep. Marcy Kaptur is locked in an extremely tight race with GOP state Rep. Derek Merrin. Texas' 34th District: Democratic Rep. Vicente Gonzalez faces a rematch against former GOP Rep. Mayra Flores, with Gonzalez slightly ahead. Washington's 4th District: Republican Rep. Dan Newhouse narrowly leads Republican former NASCAR driver Jerrod Sessler.
Persons: Donald Trump, Trump, Kamala Harris, Ruben Gallego, Kari Lake, Gallego, outperforming Harris, Lake, Mike Rogers, Elissa Slotkin, Rogers, Slotkin, Democratic Sen, Debbie Stabenow, Jon Tester, Tim Sheehy, Republican Sam Brown, Jacky Rosen, Republican Joe Lombardo, Catherine Cortez Masto, Bob Casey, Republican Dave McCormick, Tammy Baldwin, Eric Hovde, Baldwin, Republican Nick Begich, Mary Peltola, David Schweikert, Shah, Juan Ciscomani, Sen, Kirsten Engel, Kevin Kiley, Jessica Morse, Josh Harder, Stockton Mayor Kevin Lincoln, John Duarte, Democrat Adam Gray, David Valadao, Rudy Salas, Mike Garcia, Democrat George Whitesides, Young Kim, Joe Kerr, Ken Calvert, Will Rollins, Michelle Steel, Derek Tran, Mike Johnson, Bill Clark, Republican Scott Baugh, Dave Min, Mike Levin, Matt Gunderson, Lauren Boebert's, Adam Frisch, Boebert, Republican Jeff Hurd, Gabe Evans, Frank Mrvan, Republican Randell Niemeyer, Republican Mariannette Miller, Meeks, Christina Bohannan, Jared Golden, Austin Theriault, David Trone's, Frederick, April McClain Delaney, John Delaney, Republican Neil Parrott, Monica Tranel, Ryan Zinke, Harris, Don Bacon, Tony Vargas, North, Don Davis, Republican Laurie Buckhout, Gabe Vasquez, Yvette Herrell, Susie Lee, Drew Johnson, Steven Horsford, North Las Vegas Mayor John Lee, Anthony D'Esposito, Laura Gillen, Josh Riley, Marc Molinaro, Marcy Kaptur, Derek Merrin, Janelle Bynum, Lori Chavez, Andrea Salinas, Mike Erickson, Salinas, Erickson, Ryan McKenzie, Susan Wild, Scott Perry, Janelle Stelson, Vicente Gonzalez, Mayra Flores, Gonzalez, Democrat Eugene Vindman, Republican Derrick Anderson, Vindman, Alexander Vindman, Volodymyr Zelenskyy, Marie Gluesenkamp Perez, Republican Joe Kent, Dan Newhouse, Jerrod Sessler, Sessler, Newhouse, Kim Schrier, Carmen Organizations: Republican Party, NBC, Arizona, Democratic, Marine, Lake, Michigan, GOP, Democratic Rep, Nevada Senate, Republican, Senate, Pennsylvania, . Wisconsin Senate, Republicans, Democrat, California Natural Resources Agency, Stockton Mayor, Capitol, NASA, Virgin Galactic, Democrats, Democratic Army, Inc, Getty, Colorado's, Gary, Miller, Maine's, Rep, NASCAR, Commerce Department, District, Republican Rep, Army, Mexico's, North Las Vegas Mayor, New York's, Ohio's, Freedom Caucus, Trump, Ukrainian Locations: Michigan, Arizona, Nevada, Alaska, Debbie Stabenow . Montana, Montana, Pennsylvania, Washington, California, Phoenix, District, Tucson, California's, Sacramento, Central Valley, Southern California, Riverside County, Colorado's, Denver, Indiana's, Iowa's, Maryland's, Nebraska's, Omaha, North Carolina's, Nevada's, Las Vegas, Oregon's, Pennsylvania's, Texas, Virginia's, Washington's
Donald Trump on Wednesday called Elon Musk "a new star." Trump mentioned Musk in a speech while on the cusp of retaking the White House. AdvertisementDonald Trump on Wednesday morning praised Telsa CEO Elon Musk as the former president neared a return to the White House. "We have a new star, a star is born," Trump told boisterous supporters in West Palm Beach, Florida. Musk, the world's richest man, spent at least $130 million on helping Trump and other Republicans win.
Persons: Donald Trump, Elon, Trump, , Telsa, Elon Musk, Musk, Kamala Harris, Sen, JD Vance, Mike Johnson, Vance Organizations: Wednesday, Service, Trump, PAC, America PAC, GOP, Capitol, White House Locations: West Palm Beach , Florida, Pennsylvania
CNN —Speaker Mike Johnson and the GOP are feeling increasingly bullish about holding onto the House of Representatives, believing they have defied political gravity in key suburban seats as President-elect Donald Trump powered his party toward what may become a full sweep of Washington. But House Republicans and Democrats alike privately believe the GOP will maintain control, according to a half-dozen senior campaign operatives. “We’re going to hold the House,” one senior GOP campaign official said Wednesday. However, House Democrats insist it’s too early for a post-mortem. “We need to pitch a perfect game and that probably won’t happen,” a senior House Democrat campaign official said.
Persons: Mike Johnson, Donald Trump, “ We’re, , , it’s, It’s, Jared Golden, Marcy Kaptur, Susan Wild, Don Bacon of Nebraska, Kamala Harris, Trump, Bacon Organizations: CNN, GOP, Republicans, Democrats, Democratic, Democrat, Colorado –, GOP Rep, Republican Locations: Washington, California, Oregon, Nebraska, Pennsylvania, Maine, Ohio, Trump, New York, Michigan, Colorado, California , Oregon, Arizona
Kamala Harris is projected to have won a potentially critical Electoral College vote in Nebraska. Democrats have now won an electoral vote in Nebraska in three elections since 2008. With over 80% of the expected vote in, Fox News and The New York Times have called the district and its Electoral College vote for Harris. Related storiesNebraska and Maine are the only two states to award some of their Electoral College votes by congressional district. If the race were to end in an Electoral College tie, it would be turned over to the Republican-controlled US House of Representatives to decide.
Persons: Kamala Harris, , Harris, Donald Trump's, Trump, Jim Pillen, Barack Obama, Warren Buffett, — Gov, Tim Walz, Sen, JD Vance, Ohio —, Walz Organizations: Democrats, Service, Congressional District, Fox News, The New York Times, Electoral, Republican, Electoral College, Republicans, Biden, Trump, Minnesota Locations: Nebraska, Omaha, North Carolina, Georgia, Arizona, Maine, Pennsylvania , Michigan, Wisconsin, Nebraska's
Tesla stock surged 12% in premarket trading following Trump's election victory. Musk's big bet on Trump has boosted analysts' confidence in Tesla's future prospects. AdvertisementElon Musk's big bet on Donald Trump is already paying off for Tesla. AdvertisementIn his victory speech early Wednesday, Trump paid tribute to Musk's efforts, calling him a "super genius" and a "new star." Trump win an 'overall negative' for EV industryDespite the surge in Tesla shares, Trump's victory could be bad news for the wider EV market.
Persons: Elon Musk, , Elon, Donald Trump, Dan Ives, Musk, Gene Munster, Munster, Trump, Tesla's robotaxis Garrett Nelson, Ives, Nelson, Tesla, BYD Organizations: Trump, Service, Fox News, CNN, Electoral, Wedbush Securities, Tesla, Deepwater Asset Management, EV company's, Tesla's, CFRA Research, EV, Business Locations: Tesla, Butler , Pennsylvania, China
What we know about the transition so far
  + stars: | 2024-11-06 | by ( Betsy Klein | ) edition.cnn.com   time to read: +6 min
Representatives from Trump’s team met with federal agency transition planners last week to discuss “post-election readiness,” according to a White House official. GSA “is prepared to provide services to the Trump transition team once an MOU is executed and services are accepted,” a GSA spokesperson said. The federal transition coordinator, a White House spokesperson told CNN, is “actively working” with the president-elect’s transition team to complete its MOU. Trump’s transition team also has not met that deadline. The Agency Transition Directors Council, co-chaired by OMB deputy director Jason Miller and the GSA’s federal transition coordinator, Aimee Whiteman, began meeting monthly with career representatives from each agency.
Persons: Donald Trump, Biden, ” Max Stier, Stier, “ The, , Linda McMahon, Cantor Fitzgerald, Howard Lutnick, Harris, Jason Miller, Aimee Whiteman, Valerie Boyd, Barack Obama, Joe Biden, Obama, Trump, ” Trump Organizations: Washington CNN —, Trump’s, White, Public Service, CNN, “ The Biden, Trump, Office of Management, Budget, General Services Administration, Republican, Democratic Party, OMB, GSA, Small Business Administration, , House, Activity, Center, Partnership for Public Service
Former President Donald Trump bested Vice President Kamala Harris in the 2024 presidential election. Trump won largely by breaching Democrats' "blue wall." The ex-president will now return to the White House after being ousted by Joe Biden in 2020. In defeating Vice President Kamala Harris, Trump will return to the White House after voters ousted him from office in the 2020 election. Trump's return to the White House is also poised to have profound effects on the judiciary.
Persons: Donald Trump, Kamala Harris, Trump, Joe Biden, , Joe Biden's, Ron DeSantis, Nikki Haley, Biden, Harris, Clarence Thomas, Samuel Alito Organizations: Service, Fox News, CNN, NBC News, CBS News, ABC, Trump, US, GOP, UN, Democratic, GOP megadonors Locations: Wisconsin, Florida, West Palm Beach , Florida, America
JPMorgan CEO Jamie Dimon congratulated Donald Trump on winning the White House. In a memo to staff, Dimon and other top JPM executives called for "bringing our nation together." On Wednesday, JPMorgan CEO Jamie Dimon weighed in to say the time has come to band together as a nation. In a memo to staff, members of the bank's operating committee, including Dimon, congratulated Trump before recalling Dimon's comments from Election Day about national unity. AdvertisementRead the full contents of the Wednesday memo from JPMorgan's Operating Committee about Trump's victory below.
Persons: Jamie Dimon, Donald Trump, Dimon, , Donald Trump's, Kamala Harris, Trump, Jamie, Diana Frost, Kraft Heinz, Judith Kent, Harris, Walz, Kent, Goldman Sachs, David Solomon, JD Vance, Ashley Bacon, Jeremy Barnum, Lori Beer, Tim Berry, Mary Erdoes, Wealth Management Stacey Friedman, Teresa Heitsenrether, Marianne Lake, Consumer & Community Banking Robin Leopold ,, Doug Petno, Global Banking Jenn Piepszak, & Investment Bank Daniel Pinto, JPMorgan Chase Troy Rohrbaugh, & Investment Bank Sanoke Viswanathan, Reed Alexander Organizations: White, Service, Wednesday, JPMorgan, Dimon, Wells, Wall Street, Wealth Management, Consumer & Community Banking, Human, Global Banking, & Investment Bank, International Consumer Locations: Wall, United States, Washington ,, Wells Fargo, Michigan
U.S. Speaker of the House Mike Johnson (R-LA) and U.S. House of Representatives Democratic Leader Hakeem Jeffries (D-NY). "As more results come in it is clear that, as we have predicted all along, Republicans are poised to have unified government in the White House, Senate and House," Republican House Speaker Mike Johnson said Wednesday in a statement. "The party that will hold the majority in the House of Representatives in January 2025 has yet to be determined. Democrats poured huge sums of money into House races, trying to flip the lower chamber. They far outspent their Republican rivals in many of the most competitive House races across the country.
Persons: Mike Johnson, Hakeem Jeffries, Donald Trump Organizations: House, Democratic, Republicans, Senate, Republican, NBC News, Congressional, Maine's, GOP Locations: D
Elect Kyle Gay embrace on stage during an election night watch party Tuesday, Nov. 5, 2024, in Wilmington, Del. In Delaware, Sarah McBride became the first openly transgender member of Congress after winning the state's only House seat. Here are 8 women who made history with their election wins:Angela AlsobrooksSenator-elect Angela Alsobrooks (D-MD) arrives on stage to speak after winning Election results were announced, during the Angela Alsobrooks' Election Night party hosted by the Maryland Democratic Party, on Election Day, Tuesday, November 5, 2024, in College Park, Maryland. Thirteen women are set to take office as governor in 2025, beating the previous record of 12 women serving as governor simultaneously. The former trial attorney told People Magazine "it's humbling to win" in a state as historically conservative as Texas.
Persons: Lisa Blunt Rochester, Sarah McBride, Kyle Gay, Donald Trump, Kamala Harris, Angela Alsobrooks, Democrat Barbara Mikulski, Alsobrooks, Democratic Sen, Tom Carper, Blunt Rochester, Kelly Ayotte Kelly Ayotte, Kayana Szymczak, Former Sen, Kelly Ayotte, Ayotte, New Hampshire's, Jeanne Shaheen, Maggie Hassan, Emily Randall, McBride, Yassamin Ansari Yassamin Ansari, Harris, Patrick T, Fallon, Yassamin Ansari, Ansari, Julie Fedorchak, Julie Johnson, humbling Organizations: Democratic, Democratic Delaware Senate, Delaware's, Gov, U.S, NBC News, Center for American Women, Rutgers University . Still, Maryland Democratic Party, Washington Post, Getty, Maryland, United States Senate, Democrat, Former, Republican, New, Ayotte's, Washington, Latina, Congressional, Afp, Phoenix City Council, Texas, Congressional District, Texans Locations: Democratic Delaware, Wilmington, Del, United States, U.S, In Delaware, Maryland, College Park , Maryland, Delaware, Concord , New Hampshire, New Hampshire, Washington State, Kitsap, Tacoma, Sarah McBride In Delaware, Phoenix , Arizona, American, Arizona, Phoenix, Glendale, North Dakota, Julie Johnson In Texas, Texas
Former President Donald Trump arrives for his campaign rally at the Trump National Doral Golf Club in Doral, Florida, on July 9, 2024. Getting that money required him to make big promises pertaining to the crypto industry. "For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said during his keynote speech. Trump pledged to maintain the current level of bitcoin holdings that the U.S. has amassed from seizing assets from financial criminals. "On day one, I will fire Gary Gensler," Trump said, referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.
Persons: Donald Trump, Joe Raedle, Elon Musk, Robert F, Kennedy, Jr, Cantor Fitzgerald, Howard Lutnick, Trump, MicroStrategy, Gary Gensler, Joe Biden, Gensler, Crypto, haven't, Sen, Elizabeth Warren, Bitcoin, Jerome Powell Organizations: Trump National Doral Golf Club, Getty, Republican, Strategic, White, U.S . Marshals Service, U.S . Securities, Exchange, SEC, Trump, Lago Club, Riot, Marathon Digital Holdings, Radical Communist, Federal Reserve Locations: Doral , Florida, Nashville, United States of America, Germany, America, Palm Beach , Florida, China, Russia, USA
We still don't know who will control the House next year, and it could take days to count votes. But we still don't know who controls the House of Representatives, and the outcome will have major implications for the first two years of Trump's second term. "As more results come in it is clear that, as we have predicted all along, Republicans are poised to have unified government in the White House, Senate, and House," said House Speaker Mike Johnson in a statement on Wednesday morning. A Democratic House would be a major constraint on Trump's powerHistorically, newly elected presidents have typically enjoyed unified government at the beginning of their terms. Allowing those provisions to simply expire would cause most Americans to experience a major tax hike.
Persons: Trump, , Donald Trump, Mike Johnson, George H.W, Bush, Joe Biden Organizations: GOP Senate, Service, Republicans, Representatives, Senate, Democratic, House, Trump Locations: New York, Alabama, Pennsylvania, Michigan, North Carolina, California, Ukraine
Trump's campaign platform says he will seek to terminate the "Socialist Green New Deal," a reference to the IRA. The three stocks that have the most exposure to the IRA are Array Technologies , First Solar and SolarEdge , according to a Wednesday note from Goldman Sachs. Array is forecast to receive $80 million in domestic manufacturing tax credits in 2026 or about 35% of the company's estimated non-GAAP earnings per share, according to Goldman. First Solar is projected to book $2 billion in IRA tax credits in 2026 or 70% of its estimated non-GAAP earnings per share, according to Goldman. SolarEdge is expected to receive $164 million in IRA tax benefits in 2026 or about 84% of its estimated non-GAAP earnings per share.
Persons: Donald Trump, Goldman Sachs, Goldman, SolarEdge Organizations: U.S, GOP, Senate, Representatives, Green New, Technologies
CNN —Republicans will win the US Senate majority, CNN projects, shifting the balance of power in Washington. Should Harris prevail, she would face problems in confirming members of her Cabinet and judicial nominees, and the GOP Senate could thwart her domestic plans. Jim Justice was projected to pick up the Senate seat vacated by retiring Democrat-turned-independent Sen. Joe Manchin. And in Nebraska, CNN projects that Republican Sen. Deb Fischer will defeat a stronger-than-expected challenge from independent Dan Osborn, who, along with his allies, outspent Republican forces in the state. Alsobrooks will become just the fourth Black woman elected to the Senate after Democrat Lisa Blunt Rochester, the third, was projected to win Delaware’s open Senate seat earlier in the night.
Persons: Donald Trump, Kamala Harris, Harris, Jim Justice, Sen, Joe Manchin, Manchin, wouldn’t, Democratic Sen, Sherrod Brown, Bernie Moreno, Trump, Cruz, Scott, GOP Sen, Rick Scott, Debbie Mucarsel, Powell, Ted Cruz, Colin Allred, Republican Sen, Deb Fischer, Dan Osborn, Osborn hadn’t, Osborn, Jon Tester, Tim Sheehy, Wisconsin Democratic Sen, Tammy Baldwin, Republican Eric Hovde, Elissa Slotkin, Debbie Stabenow, Mike Rogers, Bob Casey, Republican Dave McCormick, Jacky Rosen, Republican Sam Brown, Kyrsten Sinema, Ruben Gallego, Kari Lake, Angela Alsobrooks, Larry Hogan, Hogan, Lisa Blunt Rochester Organizations: CNN, Republicans, GOP, Democratic, Senate, Trump, Representatives, GOP Senate, Republican, West Virginia Gov, Democrat, Democrats, Rep, Navy SEAL, Wisconsin Democratic, , House Intelligence, Army, Democratic Rep, Maryland’s Republican, Gov, Black Locations: Washington, Ohio, Florida, Texas, Nebraska, Montana, Michigan, Pennsylvania, Nevada, Arizona, Maryland’s, Alsobrooks
Markets: The post-election rally on Wall Street continued into afternoon trading, with the Dow Jones Industrial Average jumping 3.4%, or roughly 1,450 points, and the S & P 500 advancing 2.4%. It's worth noting, the stock market was reacting like Jim Cramer said it would in his Sunday column . The one thing markets hate is uncertainty, and Wednesday's rally can be attributed, in part, to relief that Wall Street professionals and individual investors alike know where they stand and what to expect from the country's next president. Bond yields move inversely to prices, and a basis point is equal to 0.01%. "You have to be very careful to respect the bond market if you do any buying today," Jim said.
Persons: Jim Cramer, Donald Trump, Kamala Harris, Morgan Stanley, Jim, It's, Yun Li, Trump, Harris, Jerome Powell's, we'll, Jim Cramer's Organizations: CNBC, ., Wall, Dow Jones, Trump, Republican, NBC, Senate, NBC News, Wells, BlackRock, Energy, Coterra Energy, Honeywell, Federal, White, Arm Holdings, Qualcomm, Bros, Moderna, Barrick Gold, Halliburton, Hershey, Air Products, Chemicals, Warner Bros ., Jim Cramer's Charitable
President-elect Donald Trump is returning to the White House , and shares of regional banks are surging on his Election Day victory. Western Alliance Bancorp turned up on the list, with a dividend yield of 1.8% as of Tuesday's close. BPOP YTD mountain Popular shares in 2024 Provident Financial Services turned up on CNBC Pro's screen. Provident posted a profit of 36 cents per share, versus analysts' call for 47 cents a share, per FactSet. Shares are up more than 21% in 2024, and as of Tuesday's close, it had a dividend yield of 5%.
Persons: Donald Trump, Scott Siefers, Piper Sandler, Davidson's Gary Tenner, Tenner, Frank Schiraldi, Piper Sandler's Mark Fitzgibbon, Fitzgibbon, , Fred Imbert Organizations: White, Republicans, Regional Banking, CNBC, Western Alliance Bancorp, Western Alliance, Financial Services, Provident
On the campaign trail, Republican presidential candidate Donald Trump made a notable promise to retirees: No taxes on Social Security benefits. Any changes to Social Security would require at least 60 Senate votes, and Republicans would therefore need some Democratic support to pass those changes. "It's hard for me to imagine that Democrats would be willing to provide votes to get over that 60-vote threshold and weaken Social Security solvency," said Charles Blahous, senior research strategist at the Mercatus Center at George Mason University, who has also served as a public trustee for Social Security and Medicare. The Trump campaign has pushed back on those findings, calling the Committee for a Responsible Federal Budget "consistently wrong" in a statement to CNBC when the report was released. The Social Security trust fund used to help pay retirement benefits is projected to run out in 2033, according to the program's actuaries.
Persons: Donald Trump, Trump, Charles Blahous, Organizations: Presidential, Convention Center, Republican, Social Security, Senate, George Mason University, Medicare, Finance, Budget, CNBC, program's Locations: Palm Beach, West Palm Beach , Florida, U.S
Bomb threats were reported across five key battleground states, both to polling places and government offices where votes are counted. The FBI, which engaged with local and state officials, confirmed that some of the threats originated from Russian email domains. “There were no major issues across the state” in the election process, said Nevada Secretary of State Francisco Aguilar. Voters who need to cure ballots with signature issues have until November 12 to do so, according to state election rules. Election workers process ballots for the 2024 General Election, in Milwaukee on November 5, 2024.
Persons: Donald Trump, Georgia –, , Jocelyn Benson, Benson, , Gabriel Sterling, Brad Raffensperger, Lorena Portillo, State Francisco Aguilar, Aguilar, Omar Sabir, Kamala Harris, ” Sabir, Al Schmidt, Scott Hunt, Sara Innamorato, , ” Innamorato, Paulina Gutierrez, “ We’re, Gutierrez, Jeff Fleming, Morry Gash, AP Sen, Ron Johnson, Brian Schimming, Johnson, Alysa Horton, they’ll, ” Horton, Horton, Adrian Fontes, Sean Lyngaas, Dalia Faheid, Brian Todd, Zachary Cohen, Casey Tolan, Holmes Lybrand, Scott Glover, Pamela Brown, Jim Acosta, Laura Dolan Organizations: CNN, Electoral, White, FBI, Democratic, Michigan Michigan, Georgia CNN, Trump, Georgia, State, Pennsylvania CNN, Pennsylvania, Philadelphia, Allegheny, Wisconsin Milwaukee, Milwaukee, AP, Wisconsin GOP, Arizona State, ASU, university’s State Press Locations: Russia, Fulton County, Georgia, Michigan, Wolverine, Detroit, , Lansing, Atlanta, Chatham County, Savannah, ” Fulton, . Nevada, Nevada, Clark, Clark County, Clark County , Nevada, Washoe County, Nye County, Pennsylvania, Cambria County, Allegheny County, , Centre, Bellefonte , Pennsylvania, Milwaukee County, Milwaukee, Wisconsin, Arizona, Tempe
CNN —Rep. Elissa Slotkin will win the competitive Michigan Senate race, CNN projects, keeping the seat in Democratic hands and making her the youngest Democratic woman elected to the Senate. Rogers called Slotkin and conceded the race, according to two sources. “Donald Trump and I were both elected by the people of Michigan. The GOP is also looking to defend its narrow majority in the US House of Representatives, though it remains uncalled. Do not trust him,” Slotkin fired back as Rogers vowed in their first debate that he would not defy the will of the Michigan people in Washington.
Persons: Elissa Slotkin, Mike Rogers, Donald Trump, Rogers, “ Donald Trump, Michiganders, Trump’s, ” Slotkin, , Slotkin, Democratic Sen, Debbie Stabenow, Michigan’s, Trump, , Harris, “ It’s, It’s, Wade Organizations: CNN —, Michigan Senate, CNN, Democratic, House Intelligence, Slotkin, GOP, Biden, Michigan Republican, Oxford High School, Michigan State University, 8th, CIA Locations: Michigan, Detroit, Florida, China, Washington, America, Slotkin, Lansing, Stabenow
When officials meet to decide where interest rates should be, they don’t consult the president and other elected officials — and for good reason. That’s because, as one former Federal Reserve chair famously said, central bankers’ job is to remove the punchbowl right when the party is just getting started. I feel that strongly,” Trump said at a press conference in August, referring to the Fed’s interest rate decisions. Lowering interest rates too soon could’ve risked reigniting inflation, which is currently just a tenth of a percentage point higher than the Fed’s 2% target. That’s why countries with independent central banks generally have lower inflation, Fed Chair Jerome Powell told reporters in September after central bankers lowered rates by a half point.
Persons: , Said, Donald Trump, , ” Trump, , Trump, could’ve, Jerome Powell Organizations: New, New York CNN, Federal Reserve, Federal, Bloomberg, Fed Locations: New York
Here's what a Trump presidency could mean for your taxes
  + stars: | 2024-11-06 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: 1 min
Republican presidential nominee and former U.S. President Donald Trump holds a rally in Saginaw, Michigan, U.S., October 3, 2024. Democratic presidential nominee U.S. Vice President Kamala Harris and Vice-Presidential candidate Tim Walz speaks during a campaign rally and concert in Ann Arbor, Michigan, U.S. October 28, 2024. Brendan McDermid | Evelyn Hockstein | ReutersPlus, most of Trump's tax policy requires Congressional approval, which could be challenging, depending on control of the Senate and House of Representatives and support within the Republican party. While Republicans secured a Senate majority, control of the House remains uncertain. If Democrats flip the House, we could see "more gridlock" in Congress, which could stall Trump's agenda, Gleckman explained.
Persons: Donald Trump, Kamala Harris, Tim Walz, Brendan McDermid, Evelyn Hockstein, Gleckman Organizations: Democratic, U.S, Reuters, Republican, Republicans Locations: Saginaw , Michigan, U.S, Ann Arbor , Michigan
Claudia Conway posted a TikTok showing her and her mom, Kellyanne Conway, going to vote together. Claudia Conway told BI there's "absolutely no universe" in which she'd vote for Trump. The two have famously disagreed on politics, but Claudia Conway shared their trip to the polls on TikTok nonetheless. "While I'm not happy with who she voted for or her voting choices, they're her choice," Claudia Conway said of her mother's politics. Representatives for Kellyanne Conway did not immediately respond to a request for comment.
Persons: Claudia Conway, Kellyanne Conway, , Donald Trump, I'm, Kamala Harris, HeadCount, Gen, Harris Organizations: Trump, Service Locations: TikTok, Pennsylvania, Wisconsin
Mark Cuban, a key Harris surrogate, congratulated Trump in a post on X before the race was called. Cuban also congratulated Elon Musk — who's been a major Trump donor and staunch GOP supporter. AdvertisementVote counting is still underway, but Mark Cuban, a key campaign surrogate for Vice President Kamala Harris, has called the race for her opponent, former President Donald Trump. In an X post on Wednesday, Elon Musk, one of Trump's most vocal supporters, said the former president had been given a "crystal clear mandate for change." Representatives for Cuban and the Harris campaign did not immediately respond to requests for comment from Business Insider.
Persons: Mark Cuban, Trump, Harris, Cuban, Elon Musk, , Kamala Harris, Donald Trump, Joe Biden's, Elon, Cedric Richmond, Walz campaign's, Richmond Organizations: Trump, GOP, Service, Democratic, White, Howard University, Cuban, Business Locations: Arizona , Michigan, Wisconsin, America
Republican presidential nominee and former U.S. President Donald Trump and Ukraine's President Volodymyr Zelenskiy meet at Trump Tower in New York City, U.S., September 27, 2024. Posting on X, Zelenskyy praised Trump on his "impressive election victory" and said he was optimistic that he and the former U.S. president, who has threatened to cut Ukraine funding quickly if re-elected, could work together toward peace in Ukraine. That would make it easy for a Republican administration to block future military funding for Ukraine. The U.S. election, and the future of that funding and support, was seen as a make-or-break moment for Kyiv. Then President Donald Trump and Russian President Vladimir Putin at a joint press conference after their summit on July 16, 2018, in Helsinki, Finland.
Persons: Donald Trump, Volodymyr Zelenskiy, Shannon Stapleton, that's, Volodymyr Zelenskyy, Trump, Kamala Harris, Zelenskyy, Trump's, Vladimir Putin, Chris McGrath, J.D, Vance, wouldn't, Organizations: Ukraine's, Trump, Reuters, U.S, NBC News, Electoral, White, U.S . House, Ukraine, Analysts, Russian, CNBC, Kyiv, Republicans, Democrats, Getty Locations: New York City, U.S, Reuters Ukraine, Ukraine, Russia, United States, America, Kyiv, Ukrainian, Helsinki, Finland, Moscow
Republicans are projected to retake the majority in the US Senate. AdvertisementRepublicans are projected to regain control of the US Senate after winning seats in West Virginia and Ohio, according to Fox News and the Associated Press, ending four years of Democratic control. Republicans also appeared likely to win a 52nd seat in Montana, where Sen. Jon Tester trailed the GOP candidate Tim Sheehy. Despite dramatically outraising Republicans in many of this year's tightest Senate races, Democrats faced a punishing map and were primarily on defense. Democrats' best pick-up opportunity in the Senate was in Texas, where Republican Sen. Ted Cruz ultimately survived a tougher-than-expected challenge from Rep. Colin Allred.
Persons: , Sen, Joe Manchin, Sherrod Brown, Bernie Moreno, Deb Fischer, Dan Osborn, Jon Tester, Tim Sheehy, Republican Sen, Ted Cruz, Colin Allred, Kamala Harris, Donald Trump Organizations: Service, Fox News, Associated Press, Democrats, GOP, Republican, Republicans, Senate, Democratic Locations: West Virginia, Ohio, Nebraska, Montana, Pennsylvania , Michigan, Wisconsin, Nevada, Arizona, Texas
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